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Plug Power Extends Strategic Hydrogen Supply Agreement with Multi-Year Contract and Improved Economics with Key Hydrogen Supplier

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Plug Power (NASDAQ: PLUG) has announced an enhanced multi-year hydrogen supply agreement with a major U.S.-based industrial gas company through 2030. The extended partnership includes immediate cost reductions and improved network efficiency to support Plug's growing applications business serving over 275 hydrogen-consuming customer sites.

The agreement strengthens Plug's domestic hydrogen network while complementing their Project Quantum Leap initiative focused on cost optimization and cash flow improvement. Plug currently operates hydrogen plants in Georgia, Tennessee, and Louisiana with a combined capacity of 40 tons per day. The company plans to launch over 40 new sites in 2025 with continued expansion expected beyond 2026.

Plug Power (NASDAQ: PLUG) ha annunciato un accordo potenziato di fornitura di idrogeno pluriennale con una grande azienda statunitense del settore dei gas industriali, valido fino al 2030. La partnership estesa prevede riduzioni immediate dei costi e un miglioramento dell'efficienza della rete per supportare il crescente business di Plug, che serve oltre 275 siti clienti consumatori di idrogeno.

L'accordo rafforza la rete nazionale di idrogeno di Plug, integrandosi con l'iniziativa Project Quantum Leap, focalizzata sull'ottimizzazione dei costi e sul miglioramento del flusso di cassa. Attualmente Plug gestisce impianti di idrogeno in Georgia, Tennessee e Louisiana con una capacità complessiva di 40 tonnellate al giorno. L'azienda prevede di aprire oltre 40 nuovi siti nel 2025, con un'espansione continua prevista anche oltre il 2026.

Plug Power (NASDAQ: PLUG) ha anunciado un acuerdo mejorado de suministro de hidrógeno a largo plazo con una importante empresa estadounidense de gases industriales, vigente hasta 2030. La alianza ampliada incluye reducciones inmediatas de costos y una mayor eficiencia en la red para apoyar el creciente negocio de aplicaciones de Plug, que atiende a más de 275 sitios clientes consumidores de hidrógeno.

El acuerdo fortalece la red doméstica de hidrógeno de Plug y complementa su iniciativa Project Quantum Leap, centrada en la optimización de costos y la mejora del flujo de caja. Actualmente, Plug opera plantas de hidrógeno en Georgia, Tennessee y Louisiana con una capacidad combinada de 40 toneladas por día. La empresa planea lanzar más de 40 nuevos sitios en 2025, con una expansión continua prevista más allá de 2026.

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ì´ë²ˆ ê³„ì•½ì€ Plugì� êµ­ë‚´ 수소 네트워í¬ë¥� 강화하며, 비용 최ì í™”와 현금 í름 개선ì—� 중ì ì� ë‘� Project Quantum Leap ì´ë‹ˆì…”티브를 보완합니ë‹�. PlugëŠ� 현재 ì¡°ì§€ì•�, 테네ì‹�, 루ì´ì§€ì• ë‚˜ì—� 수소 공장ì� ìš´ì˜ ì¤‘ì´ë©�, ì´� ìƒì‚° ëŠ¥ë ¥ì€ ì¼ì¼ 40í†�입니ë‹�. 회사ëŠ� 2025ë…„ì— 40ê°� ì´ìƒì� ì‹ ê·œ 사ì´íŠ�ë¥� 개설í•� 계íšì´ë©°, 2026ë…� ì´í›„ì—ë„ ì§€ì†ì ì� 확장ì� 예ìƒë©ë‹ˆë‹�.

Plug Power (NASDAQ : PLUG) a annoncé un accord pluriannuel amélioré de fourniture d'hydrogène avec une grande entreprise américaine de gaz industriels, valable jusqu'en 2030. Ce partenariat étendu inclut des réductions immédiates des coûts et une meilleure efficacité du réseau pour soutenir le développement des activités de Plug, qui dessert plus de 275 sites clients consommateurs d'hydrogène.

L'accord renforce le réseau national d'hydrogène de Plug tout en complétant leur initiative Project Quantum Leap, axée sur l'optimisation des coûts et l'amélioration des flux de trésorerie. Plug exploite actuellement des usines d'hydrogène en Géorgie, Tennessee et Louisiane avec une capacité totale de 40 tonnes par jour. L'entreprise prévoit d'ouvrir plus de 40 nouveaux sites en 2025, avec une expansion continue attendue au-delà de 2026.

Plug Power (NASDAQ: PLUG) hat eine erweiterte mehrjährige Wasserstoffliefervereinbarung mit einem großen US-amerikanischen Industriegasunternehmen bis 2030 angekündigt. Die verlängerte Partnerschaft umfasst sofortige Kostensenkungen und eine verbesserte Netzwerkeffizienz zur Unterstützung von Plugs wachsendem Anwendungsbereich, der über 275 wasserstoffverbrauchende Kundenstandorte bedient.

Die Vereinbarung stärkt Plugs inländisches Wasserstoffnetz und ergänzt die Project Quantum Leap-Initiative, die sich auf Kostenoptimierung und Verbesserung des Cashflows konzentriert. Plug betreibt derzeit Wasserstoffanlagen in Georgia, Tennessee und Louisiana mit einer Gesamtkapazität von 40 Tonnen pro Tag. Das Unternehmen plant, über 40 neue Standorte im Jahr 2025 zu eröffnen, mit einer weiteren Expansion über 2026 hinaus.

Positive
  • Immediate cost reduction and improved network efficiency in hydrogen supply
  • Extended strategic partnership secured through 2030 with major U.S. supplier
  • Supporting network for 275+ hydrogen-consuming customer sites
  • 40 tons per day current hydrogen production capacity across three states
  • Planned expansion of 40+ new sites in 2025
Negative
  • Continued dependence on external hydrogen suppliers despite own production capacity
  • Current market dynamics require mixed hydrogen solutions rather than self-sufficiency

Insights

Plug Power secures hydrogen supply through 2030, reducing costs immediately and improving cash flows while supporting growing customer applications.

Plug Power has strengthened its supply chain security with an enhanced agreement that extends its partnership with a major U.S. industrial gas supplier through 2030. The immediate cost reduction aspect of this deal directly addresses one of Plug's most significant challenges - improving its margin profile while maintaining reliable hydrogen access for its growing customer base of over 275 sites.

This agreement aligns perfectly with the company's ongoing Project Quantum Leap initiative focused on cost optimization and cash flow improvement. For a company that has historically struggled with profitability, securing better economics on a critical input like hydrogen represents a material positive development.

The timing is particularly strategic given the recent passage of energy and tax legislation supporting U.S. clean hydrogen development, which should provide regulatory tailwinds. While Plug continues building its own hydrogen production capacity (currently at 40 tons per day across Georgia, Tennessee, and Louisiana facilities), this balanced approach of both self-production and strategic sourcing provides operational flexibility.

Notably, Plug is planning to launch over 40 new sites in 2025 alone, indicating robust near-term growth expectations. This supply agreement provides the hydrogen security needed for this expansion while preserving capital resources that might otherwise be directed to additional production facilities. The deal appears designed to optimize Plug's capital allocation while maintaining supply chain resilience during a period of anticipated growth.

New Deal Strengthens Domestic Hydrogen Supply, Reduces Cost Structure and Supports Continued Growth of Plug Applications

SLINGERLANDS, N.Y., July 09, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions, today announced a new multi-year enhanced supply agreement with a leading U.S.-based industrial gas company and longtime hydrogen partner through 2030. The agreement extends the companies� current strategic relationship through 2030, securing reliable hydrogen supply for Plug’s growing applications business while significantly reducing the cost structure and improving cash flows.

As part of the extension, the strategic partner will continue to supply Plug with liquid hydrogen while immediately reducing the cost and collaborating on improved network efficiency. The extension aligns with Plug’s strategic objectives to strengthen margins, enhance operational flexibility and support customer demand across a growing base of over 275 hydrogen-consuming customer sites and growing.

“This expanded agreement supports our mission to build on our already robust and resilient hydrogen network in the U.S.,� said Andy Marsh, CEO of Plug. “As we continue to scale our applications business and build long-term partnerships with customers, reliable supply and cost efficiency are critical. This contract is a win for Plug, our customers, our suppliers and our margin profile. The immediate cost reduction complements our progress this year with , focused on cost optimization and cash flow improvement.�

Plug’s diverse and growing customer base, along with the continued rollout of new sites, demands the ongoing expansion of its hydrogen solutions and supporting network. While Plug continues to scale its own hydrogen production capacity, current market dynamics and anticipated growth necessitate a mix of hydrogen solutions and strong partnerships to advance the industry. Strategic supply agreements like this one allow Plug to meet growing application demand while preserving resources and strengthening partnerships across the value chain.

Plug is rapidly expanding its generation network to ensure a reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee and Louisiana. Together, these facilities represent 40 tons per day of liquid hydrogen production capacity, with additional plants under development to further increase Plug’s footprint and support national infrastructure needs. Plug is launching over 40 new sites in 2025 and anticipates continued growth in the industry in 2026 onward, expanding the need for more ubiquitous and cost-efficient hydrogen supply.

This announcement follows the recent passage of energy and tax legislation supporting U.S. clean hydrogen development. This legislation will provide strong tailwinds in the near and mid-term for additional market growth. Plug’s expanded agreement with this partner highlights how strong U.S.-based industrial partnerships are advancing a domestic hydrogen economy to support this ongoing growth.


About Plug Power
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks and fueling infrastructure to industries such as material handling, industrial applications and energy producers—advancing energy independence and decarbonization at scale.

With electrolyzers deployed across five continents, Plug leads in hydrogen production, delivering large-scale projects that redefine industrial power. The company has deployed over 72,000 fuel cell systems and 275 fueling stations and is the largest user of liquid hydrogen. Plug is rapidly expanding its generation network to ensure reliable, domestically produced supply, with hydrogen plants currently operational in Georgia, Tennessee and Louisiana, capable of producing 40 tons per day.

With employees and state-of-the-art manufacturing facilities across the globe, Plug powers global leaders like Walmart, Amazon, Home Depot, BMW and BP.

For more information, visit .

Safe Harbor
This communication contains “forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug�), including but not limited to statements about: the ability for the supply agreement extension to secure reliable hydrogen supply, reduce the cost structure, and improve cash flows; the anticipated growth and scalability of Plug’s applications business; the effectiveness of the collaboration to improve network efficiency; the supply agreement extension’s ability to strengthen margins, enhance operational flexibility and support customer demand; the expansion of Plug’s hydrogen solutions and supporting network; the ability for Plug to scale its own hydrogen production capacity; the capability of Plug’s hydrogen plants to produce anticipated rate of liquid hydrogen; the success of Plug’s plans to develop, build, and operate additional hydrogen plants; and the recent energy and tax legislation supporting U.S. clean hydrogen development ability to produce the anticipated industry tailwinds. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC�), including the “Risk Factors� section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2024 and Plug’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.


MEDIA CONTACT
Teal Hoyos

Source: Plug Power


FAQ

What is the duration of Plug Power's new hydrogen supply agreement?

The agreement extends Plug Power's strategic relationship with the U.S.-based industrial gas company through 2030.

How many hydrogen-consuming customer sites does PLUG currently serve?

Plug Power currently serves over 275 hydrogen-consuming customer sites with a growing customer base.

What is Plug Power's current hydrogen production capacity?

Plug Power operates facilities in Georgia, Tennessee, and Louisiana with a combined capacity of 40 tons per day of liquid hydrogen production.

How many new sites is PLUG planning to launch in 2025?

Plug Power plans to launch over 40 new sites in 2025 with continued growth expected in 2026 and beyond.

How does this agreement align with Plug Power's strategic objectives?

The agreement aligns with Plug's objectives by strengthening margins, enhancing operational flexibility, and supporting customer demand while reducing costs and improving cash flows.
Plug Power

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Electrical Equipment & Parts
Electrical Industrial Apparatus
United States
SLINGERLANDS